7322
Collection Agencies
MCC 7322 covers services provided by collection agencies involved in collecting debts on behalf of other businesses or entities.
Interchange Fee
Interchange fees for transactions under MCC 7322 typically range between 1.5% to 3.5% based on card network and issuer specifics.
Cashback Rewards
Cashback rewards are generally not applied to payments made to collection agencies due to their nature and industry classification.
Rules and Restrictions
There are no special rules or restrictions for payment processing under MCC 7322 beyond industry-standard practices.
Tax Reporting
Transactions involving MCC 7322 may require tax reporting depending on the nature and structure of collections. The IRS may impose tax requirements based on the service arrangement and applicable regulations.